The deal will see the company acquire the stake from its largest shareholder Swiber Holdings in a transaction worth $17.5m.
Established in 1996, PTSB operates a fleet of eighteen OSVs comprising mainly anchor handlers, anchor handling tugs, flat top barges and accommodation work barges.
The remaining 51% stake in PTSB will continue to be held by PTSB’s Indonesian shareholder.
It said it intends to fund the acquisition through a combination of perpetual securities and new ordinary shares.
“This
